SL woos US support for early conclusion of debt restructuring

• Foreign Minister met US Ambassador to request support 
• Discusses attracting more US investments
• Japan urges SL to conclude MoU with creditors 
• Japan’s FM SUZUKI Shunichi to visit SL January 11-12

By Kelum Bandara

Sri Lanka yesterday sought the support of the United States (US) for early completion of debt restructuring, following the initial agreement reached in principle last year, a Minister said yesterday.

Sri Lanka reached the agreement with the Official Creditor Committee comprising 15 countries and co-chaired by Japan, along with France and India. China, as the largest bilateral creditor, also reached an understanding with Sri Lanka separately as it is not part of the committee. Now, Sri Lanka has to strike a debt restructuring deal with private creditors. 

Foreign Minister Ali Sabry who called on US Ambassador Julie Chung said the US assistance was sought to expedite the finalization of the debt restructuring process.

He said the discussion centred on the multi-faceted approach of bilateral relations, and Sri Lanka is keen to attract more and more investments from the US.

Meanwhile, Japan also reiterated the need for early conclusion of signing of the Memorandum of Understanding (MoU) with the creditors, upholding transparency.

Minister of Finance of Japan, SUZUKI Shunichi will undertake an official visit to Sri Lanka from 11-12 January 2024.

During the visit, the Japanese Finance Minister is scheduled to have official discussions with President Ranil Wickremesinghe and Minister Sabry.